The European Commission opened a probe in January last year focusing on the parallel trade of Mondelez's chocolate, biscuits and coffee between EU countries where the company is a key producer in a market worth billions of euros.

At issue is whether the U.S. company imposed restrictions on languages used on packaging and if it had refused to supply certain traders aimed at curbing imports into certain markets.

Mondelez, which also makes Cadbury and Toblerone chocolates, said it has been cooperating with the investigation and is currently in talks with the EU competition enforcer in bid to reach a negotiated, proportionate resolution.

"As of December 31, 2022, the company recorded an accrual in accordance with U.S. GAAP of 300 million euros as an estimate of the possible cost to resolve this matter," the company said in a Jan. 31 regulatory filing.

"There is a possibility that the final liability could be materially higher than the amount accrued," it said.

The Commission can fine companies up to 10% of their global turnover for antitrust violations.

($1 = 0.9205 euros)

(Reporting by Foo Yun Chee, Editing by Louise Heavens)

By Foo Yun Chee